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Proposed capital return of $100 million by way of a Tender Offer at 250 pence per Ordinary Share
Premium of 25% to PureTech's trailing three-day VWAP
Proposed Tender Offer follows completion of Karuna Therapeutics' $14 billion acquisition by Bristol Myers Squibb. The Tender Offer will be launched following publication of the Company's Full Year Results in April 2024
PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announces a proposed capital return of $100 million to its shareholders by way of a tender offer (the "Tender Offer"). The capital return of $100 million represents approximately 14% of PureTech's market capitalization based on yesterday's closing price. This follows the Company's announcement that it will receive approximately $293 million gross proceeds from its remaining stake in Karuna.
Posted In: PRTC
